The Chromecast Ultra, a new version of Google's popular streaming device, was launched during Google's Pixel event on Tuesday. The device is capable of streaming videos in 4K resolution.

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Google announced the Chromecast Ultra as a big update to its Chromecast streaming dongle. It can not only stream 4K video from supported services like YouTube, Netflix, and Vudu (at launch).

Google's advanced dongle supports HDR content i.e. HDR10  and Dolby Vision HDR video formats. There is also an Ethernet connectivity port.

Google also promised improved speeds as it announced that the Chromecast Ultra can load videos 1.8 times faster than the standard Chromecast, thanks to improved Wi-Fi connectivity. The company is also including a power adapter in the package, which is good news for buyers.

While the design of the Ultra is pretty similar to the standard Chromecast; the Chrome badge has been replaced with a "G" logo on a flat hockey puck design, and a tiny HDMI cord is attached so the device that can easily disappear behind the TV. Content from an Android phone or a laptop can be mirrored with ease, and the device will work in sync with Google Home once it is released.

When Google Play Movies start offering content and gaining 4K support in November, the demand for the futuristic device is expected increase.

The Chromecast Ultra costs double the price of its predecessor at $69. It would be released in November in the US and would be available in 15 countries around the world.